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The Number of Quarters Needed to Double an Investment When n=ln⁡2ln⁡1.025\mathrm { n } = \frac { \ln 2 } { \ln 1.025 }

Question 263

Multiple Choice

The number of quarters needed to double an investment when a lump sum is invested at 10%, compounded quarterly, is given b n=ln⁡2ln⁡1.025\mathrm { n } = \frac { \ln 2 } { \ln 1.025 } Find n, rounded to the nearest tenth.


A) 28.1 quarters
B) 33.1 quarters
C) 24.1 quarters
D) 31.1 quarters

Correct Answer:

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